Carbios (ALCRB) H1 2025 earnings summary

Executive summary

• Focused on industrializing biotechnologies for PET plastic and textile recycling, targeting a growing global market and benefiting from favorable EU and French regulations.

• Maintained a strong cash position of €72 million as of June 30, 2025, ensuring over 12 months of liquidity.

• Postponed Longlaville plant construction to end of 2025 to reduce cash burn and accelerate commercial efforts, with production start targeted for H2 2027.

• Signed multi-year offtake agreements with L'Oréal and L'Occitane, and a supply commitment with Indorama Ventures for Michelin, confirming strong demand for biorecycled PET.

• Achieved B Corp certification and received authorization for €42.5 million in public aid for the Longlaville plant, with €30 million grant agreement signed and €12.5 million regional aid pending final approval.

Financial highlights

• Revenue for H1 2025: €519k, up from €73k in H1 2024.

• Net loss for H1 2025 was €23.5 million, compared to €18.1 million in H1 2024.

• Current operating loss improved to €17.6 million from €20.0 million, reflecting cost reduction efforts.

• Cash and cash equivalents at June 30, 2025: €72 million, down from €89.8 million at year-end 2024.

• R&D expenses decreased to €10.2 million from €11.8 million year-over-year.

Outlook and guidance

• Construction of Longlaville plant to restart before end of 2025, subject to securing additional financing and pre-sales, with production expected in H2 2027.

• Ongoing discussions with private and public partners to finalize financing and pre-sales.

• Commercialization of PET biorecycling technology licenses remains a strategic focus, supported by technological maturity and partner negotiations.